If you own a property and are looking for a quick equity boost, or some extra rent, then adding a room might be a good option.

While this strategy suits some, not every house is going to be suited to the task. Before you even touch the toolkit, you need to hit up the numbers.

As always, head on to a listings website. You need to create an understanding in your mind about the difference between prices of say, comparative two bedroom homes and three bedroom homes that have the majority of other factors (such as land size, location and amenity) similar to yours.

Once you have worked out what this number is, you can very easily do a similar task with rental prices. Read more